Bank officials appeal for period of calm

The local credit system’s cash flow is sufficient to cover the needs of the state, enterprises and households over the coming period, sources from the central bank as well as top lender officials assured on Monday.

They did warn, however, that for this not to change it would be necessary for the country’s political parties and politicians to display maturity and responsibility and avoid statements and interventions that would harm citizens’ confidence.

Bank deposits in Greece amounted to 164.5 billion euros at the end of October, against 163.3 billion at end-2013. That is 14 billion euros more than the minimum level recorded during the previous general election in June 2012, when deposits had added up to just 150.5 billion euros.

Bank officials expressed optimism regarding the smooth replacement of state collateral that lenders use to draw liquidity from the European Central Bank. The ECB has long since announced that such collateral will cease to be accepted from any eurozone member state as of March 1, 2015.